Why is Earnings Beat Unlikely for SL Green (SLG) in Q1?

SL Green Realty Corp. SLGis slated to report first-quarter 2018 results on Apr 18, after the market closes. While funds from operations (FFO) per share will likely increase on a year-over-year basis, revenues are expected to decline.

Last quarter, this real estate investment trust (REIT) met its FFO estimates.

The office landlord experienced an increase in occupancy rate in its Manhattan portfolio. However, the company’s Q4 results reflected an overall fall in revenues.

Over the trailing four quarters, the company surpassed the Zacks Consensus Estimate in one occasion, missed in another and met in the remaining two. The company delivered an average positive surprise of around 1.2% during this period. The graph below depicts this surprise history: